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U.S. Securities and Exchange Commission
Litigation Release No. 15248 / February 6, 1997
SECURITIES AND EXCHANGE COMMISSION v. LINDA M. KING, Civil Action
No. 2:96-0863 (S.D. W.Va.)
The Securities and Exchange Commission announced that on
January 24, 1997, a Notice of Dismissal was filed in the above-
captioned action in the U.S. District Court for the Southern
District of West Virginia. On September 6, 1996, the Commission
had filed a complaint seeking an order of the Court mandating
that Defendant Linda M. King ("King") comply with the terms of a
prior Commission order. That order was issued in connection with
the Burnett Grey & Company, Inc., et al. administrative
proceeding, which involved net capital and books and records
violations at a now-defunct broker-dealer. See Securities
Exchange Act Release No. 36061 (August 4, 1995). The
Commission s order required King, among other things, to pay a
civil money penalty of $5,000, which she subsequently failed to
do.
After King was served with the complaint and prior to filing
an answer in the action, King paid the $5,000 penalty in
compliance with the Commission s order. Accordingly, voluntary
dismissal by the Commission was appropriate.